and im extremely clueless.
I am 13 years old,and my father will be the one setting up the account and investing,but I get the money
So what are the basics? tips?
please dont criticize me because Im so young.
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November 12th, 2009 at 6:48 am
If you are asking for advices to trade, buy low and sell high. Always try to buy when there is a bear rally or a down day. And not really on an up day unless the point you buy is still at its low.
Also, even if you see that the stock might be going up and you think you might be missing the opportunity…don’t worry…chances are…stocks go up and down…so you might be able to buy it at the price you want. Don’t try to chase after the stock.
For short term, when you see a decent profit, take the profit and get back in once the price of the stock drops.
You should start reading financial news, be aware when the economic data are coming out and how those data can affect the market, the earnings announcement from the companies.
Also, there are blogs available such as http://www.crashmarketstocks.com…so you can get someone’s point of view about the stock market.
Personally for me, when I opened my Scottrade account a few months ago, I just looked at the historical price trends graph of the stocks from google finance and keep myself updated with the news.
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so far, I have been buying financial stocks…so out of them BAC, WFC, JPM, DB…overall right now JPM, WFC, and DB are kinda high…so you should wait til the earnings’ period is done and reevaluate the market condition…so you can buy them at lower prices and keep them for short or long term…
For apparel companies…I think GES and RL are good…but once again…have gone up way too much…
November 12th, 2009 at 6:48 am
Tell your father to teach the basics of investing. Until then, put that money into a bank CD or money market. He can even buy you a savings bond.
November 12th, 2009 at 6:48 am
1. go to your local library and read books about investing. The time is well invested.
2. If you want to invest in the stockmarket: buy only shares of companies you know, you must understand what the risks and chances of these companies are.
3. Spread the risk, don´t bet on only one company.
4. Use the net for information, but don´t believe everything you read.